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Dvibutis Norku g.

Profitus
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100 %
  • Status funded
  • Goal 220,000 EUR (€)
  • Raised 220,000 EUR (€)
  • Investors 174
  • Interest rate 8.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a new phased financing project “Dvibutis Norku g.”, the funds of which will be allocated to real estate development. The amount to be raised at this stage is EUR 220 000.

About the borrower: 
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company’s name. The developer previously received financing on the Profitus platform and has completed 9 real estate projects. Projects were successfully finished, and investors were paid back on time.

The aim of the project:
The owner of the project is developing a 315.26 square meter, A++ energy class semi-detached house. Apartments in semi-detached house have an area of 113 square meters, of which 50 square meters is a garage. Currently, according to the Registry Center, the semi-detached house is registered as completed – 45%. The semi-detached house will be sold partially or fully furnished. The planned sales revenue of the project is about EUR 533 000.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a semi-detached house with an area of 315.26 square meters, energy class A++ and a plot of land with an area of 14.8 acres are pledged at Norku st. 18, Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 391 000.  

Maximum planned amount of funding for the project: EUR 400 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.

Interest by investment amount:
– From 100 EUR to 499 EUR – 8,5%
– From 500 EUR to 4 999 EUR – 9,5%
– From 5 000 EUR to 14 999 EUR – 9%
– From 15 000 EUR to 24 999 EUR – 10,5%
– From 25 000 EUR – 12%
Important: investments made separately are not aggregated.

We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.

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